The Union Cabinet approved on November 22 the Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises (CPSEs). According to the decision taken, management of the CPSEs would be free to negotiate wage revision for workmen where the periodicity of wage settlement of five years or ten years has expired generally on 31.12.2016 keeping in view the affordability and financial sustainability of such wage revision for the CPSEs concerned. However, CPSEs have to keep in mind that no budgetary support for any wage increase shall be provided. The entire financial implication would be borne by the respective CPSEs from their internal resources. In those CPSEs for which the Government has approved restructuring/revival plan, the wage revision will be done as per the provisions of the approved restructuring/revival plan only. The wage negotiations are also subject to a few other conditions. There are about 12.34 lakh employees in 320 CPSEs in the country. Out of these, about 2.99 lakh employees are Board level and below Board level executives and non-unionized Supervisors. The remaining about 9.35 lakh employees belong to the unionized workmen category. Wage revision in respect of unionized workmen is decided by trade unions and management of CPSEs in terms of guidelines issued by the Department of Public Enterprises (DPE) for wage negotiations.